Jamie Dimon: US economy is doing fine

JPMorgan Chase CEO Jamie Dimon tells CNN's Christiane Amanpour that the economy going into 2019 is very strong but that concerns like Brexit and trade are affecting confidence.

Posted: Nov 6, 2018 6:59 PM
Updated: Nov 6, 2018 7:33 PM

Jamie Dimon thinks the US economy is doing just fine -- and it could get even better.

The chairman and CEO of JPMorgan Chase, (JPM) the nation's largest bank, disagrees with economists predicting an imminent recession. Some believe the economy will turn south because of a trade war with China and rising interest rates.

"There will be another recession. It doesn't mean it has to be early in 2019. It may very well be 2020, 2021," he said in an interview from Paris with CNN's Christina Amanpour. "The American economy is still doing quite well. And it may very well be accelerating. Unemployment is going to hit probably a post-war low sometime in the next 12 months."

Unemployment remained at 3.7% according to a government report released Friday. That matches a 49-year low.

Dimon was in France to announce a $30 million investment into Seine-Saint-Denis, one of France's poorest districts. He aid global stock markets would be hurt by issues like a trade war between the United States and China and Brexit in Europe. But the economy itself is strong enough that it "may not be derailed by a little bit of short term negative news."

President Donald Trump deserves some of the credit for the economic growth, Dimon said. He pointed to the administration's moves to lower corporate taxes and eliminate regulations.

But the bank chief said he doesn't like Trump's approach to dealing with China, particularly the threat and use of tariffs. Dimon agrees, however, that issues need to be negotiated with China.

"I would prefer private negotiations. I hope that president's strategy works, particularly with China," he said.

Dimon said he regrets getting into a spat with Trump when he said earlier this year that "I think I could beat Trump. I'm as tough as he is, I'm smarter than he is. I would be fine. He could punch me all he wants, it wouldn't work with me. I'd fight right back."

Trump responded with tweets criticizing Dimon, saying he didn't have the smarts to be president. Dimon told Amanpour that making the claim he did was a mistake.

"I wish I hadn't said it," he said. "I don't want to be involved in macho tit for tat with anyone. I want to be serious about policy. I regret having said it. That was me acting like a child."

Mississippi Coronavirus Cases

Data is updated nightly.

Cases: 314710

Reported Deaths: 7254
CountyCasesDeaths
DeSoto21646260
Hinds20369416
Harrison17949309
Rankin13643278
Jackson13450246
Madison10113217
Lee9986174
Jones8384163
Forrest7689152
Lauderdale7198240
Lowndes6403148
Lamar623686
Lafayette6203119
Washington5341134
Bolivar4802132
Oktibbeha462998
Panola4596107
Pearl River4519146
Marshall4450103
Warren4393121
Pontotoc420872
Monroe4115133
Union411176
Neshoba4031176
Lincoln3969110
Hancock379586
Leflore3498125
Sunflower336290
Tate334784
Pike3327105
Scott316274
Alcorn313368
Yazoo311770
Itawamba300577
Copiah297465
Coahoma295579
Simpson295388
Tippah288768
Adams286982
Prentiss280060
Marion269380
Leake268473
Wayne262841
Grenada261587
Covington259881
George248148
Newton246862
Winston227581
Tishomingo227067
Jasper221148
Attala214473
Chickasaw208057
Holmes189174
Clay185554
Stone182833
Tallahatchie178941
Clarke178080
Calhoun170932
Yalobusha164638
Smith162534
Walthall134245
Greene130633
Lawrence128724
Montgomery127142
Noxubee126734
Perry126338
Amite123142
Carroll121829
Webster114532
Jefferson Davis107133
Tunica105726
Claiborne102430
Benton100025
Humphreys96733
Kemper95828
Franklin83923
Quitman81116
Choctaw76418
Wilkinson67531
Jefferson65728
Sharkey50217
Issaquena1686
Unassigned00

Alabama Coronavirus Cases

Cases: 540083

Reported Deaths: 11038
CountyCasesDeaths
Jefferson798481529
Mobile41283809
Madison35157506
Tuscaloosa25925455
Shelby25302249
Montgomery24723593
Baldwin21411310
Lee15993172
Calhoun14574319
Morgan14425280
Etowah13925353
Marshall12280225
Houston10648282
Elmore10158206
Limestone10070151
St. Clair9948245
Cullman9768194
Lauderdale9460243
DeKalb8865188
Talladega8341176
Walker7261278
Autauga7005108
Jackson6840112
Blount6773139
Colbert6322135
Coffee5581118
Dale4877113
Russell445738
Chilton4373113
Franklin426382
Covington4138118
Tallapoosa4044153
Escambia394877
Chambers3596123
Dallas3569153
Clarke351561
Marion3140101
Pike312077
Lawrence303098
Winston275873
Bibb264764
Geneva254178
Marengo249865
Pickens234862
Barbour232056
Hale224078
Butler219169
Fayette212862
Henry189943
Cherokee184845
Randolph182542
Monroe178141
Washington167839
Macon161350
Clay157257
Crenshaw153557
Cleburne149641
Lamar143336
Lowndes140653
Wilcox127430
Bullock123242
Conecuh110829
Coosa109228
Perry107826
Sumter105032
Greene92634
Choctaw61024
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Humidity builds across our area through much of your Monday, importing plenty of extra cloud coverage. A few spotty showers and storms are likely, especially during the afternoon. By mid-week, we dry out and temperatures soar toward the weekend.
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